Myokardia (NASDAQ:MYOK)‘s stock had its “buy” rating reiterated by equities researchers at BMO Capital Markets in a report released on Thursday, TipRanks reports. They presently have a $90.00 target price on the biotechnology company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 69.59% from the stock’s previous close.
Several other equities research analysts have also issued reports on MYOK. ValuEngine raised Myokardia from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. Credit Suisse Group lifted their price objective on Myokardia from $77.00 to $82.00 and gave the company a “positive” rating in a research note on Tuesday, February 11th. Citigroup lifted their price target on Myokardia from $70.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Co lifted their price target on Myokardia from $82.00 to $96.00 and gave the stock a “positive” rating in a research note on Friday, January 17th. Finally, Zacks Investment Research lowered Myokardia from a “buy” rating to a “hold” rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. Myokardia presently has a consensus rating of “Buy” and an average price target of $87.73.
NASDAQ:MYOK opened at $53.07 on Thursday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -8.70 and a beta of 2.00. Myokardia has a 52-week low of $43.50 and a 52-week high of $78.28. The stock has a fifty day moving average of $61.17 and a 200 day moving average of $62.22.
In other news, CEO Anastasios Gianakakos sold 5,000 shares of Myokardia stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $71.80, for a total value of $359,000.00. Following the transaction, the chief executive officer now owns 114,464 shares in the company, valued at $8,218,515.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Taylor C. Harris sold 1,683 shares of Myokardia stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $68.45, for a total value of $115,201.35. Following the completion of the transaction, the chief financial officer now owns 4,993 shares in the company, valued at approximately $341,770.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,584 shares of company stock valued at $2,212,186. Corporate insiders own 4.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in shares of Myokardia in the fourth quarter worth about $54,000. IFP Advisors Inc purchased a new position in Myokardia during the 4th quarter valued at about $61,000. Amundi Pioneer Asset Management Inc. purchased a new position in Myokardia during the 1st quarter valued at about $68,000. Sowell Financial Services LLC purchased a new position in Myokardia during the 4th quarter valued at about $71,000. Finally, Aigen Investment Management LP purchased a new position in Myokardia during the 4th quarter valued at about $99,000.
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which is in Phase III clinical trial that is designed to reduce left ventricular contractility to alleviate the functional consequences and symptoms of obstructive hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression, as well as in Phase II clinical trial for non-obstructive HCM.
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